Vietnamese small businesses are confident of a positive 2024

Vietnamese small businesses are confident of a positive 2024, with 86 percent projecting they will grow on the back of robust economic growth, improving the results from the previous two years, CPA Australia’s annual survey shows.

Seventy-seven percent of local small business grew in 2023, well above the survey average of 60 percent, and outperforming all but two of the 11 markets included in the Asia-Pacific Small Business Survey.

Another factor that is contributing to the success of Vietnam’s small businesses is they have on average, the youngest business owners or CEOs, with 65 percent under 40 compared to the survey average of 43 percent. The data reveals that younger business owners or CEOs are more likely to be running businesses that are growing, investing in technology and innovating.

Vietnamese small businesses were the most likely to devote time and resources to ESG-related activities, including diversity and inclusion policies, staff health and safety policies, and community volunteering programs.

Vietnam’s small businesses are the second most likely to innovate this year, with 44 percent stating they will introduce a new product, process or service to the market or the world in 2024.

Vietnam’s small businesses lead the region in generating a quick return on their technology investment, with 76 percent saying their technology investment in 2023 improved their profitability, up significantly from 51 percent in 2022.

This is reflected in the strong returns from online sales with 77 percent of small businesses receiving more than 10 percent of their revenue from e-commerce in 2023, the highest on record for Vietnam. Social media usage has also seen a marked improvement with only six percent not using such platforms for business purposes, compared to 26 percent in 2022.

While most local small businesses reviewed their cybersecurity in the past six months, there is scope for an even greater focus on cybersecurity. Sixty-four percent of Vietnam’s small businesses lost time and/or money due to a cyber incident in 2023, and 70 percent anticipate further cyberattacks this year.

Chair of CPA Australia’s South Vietnam Advisory Committee, Nam Nguyen FCPA, said: “Small businesses must take proactive measures to safeguard against major damage from cyberthreats as it can seriously affect the bottom line, customer trust and staff morale.

“It’s positive the government has announced its national cybersecurity strategy. This strategy includes several major measures that are designed to keep Vietnam in the top 30 global cybersecurity rankings. For small businesses, they should focus on steps the government is taking to create a safe and trustworthy cyberspace and combatting cybercrime.”

My Phung

See also

MM Mega Market Vietnam celebrates the Week of Italian Cuisine

MM Mega Market Vietnam celebrates the Week of Italian Cuisine

MM Mega Market Vietnam (MMVN) kicked off its much-anticipated “Week of Italian Cuisine”. The event aims to introduce Vietnamese consumers to the rich heritage of Italian cuisine, stimulating the consumption of imported Italian food and beverages.
GreenYellow and LOTTE Mart partner to promote sustainable energy solutions in retail sector

GreenYellow and LOTTE Mart partner to promote sustainable energy solutions in retail sector

GreenYellow announced the signing of Leasing & Maintance Agreements in Vietnam with LOTTE Mart, a subsidiary of the Korean LOTTE Group.
Building the future generation of bartenders through sustainability training

Building the future generation of bartenders through sustainability training

With skillful techniques, extensive knowledge of drinks and the ability to create unique drinks, bartending is becoming a profession with many development opportunities in Vietnam.
MM Mega Market holds groundbreaking ceremony for Da Nang MM Supercenter

MM Mega Market holds groundbreaking ceremony for Da Nang MM Supercenter

On November 8, MM Mega Market (Vietnam) held a groundbreaking ceremony for the Da Nang MM Supercenter, located at Nguyen Sinh Sac Street, Hoa Khanh Nam Ward, Lien Chieu District, Da Nang City.
SCG announces Q3 and 9M/2024 results

SCG announces Q3 and 9M/2024 results

SCG announced its Q3 and 9M/2024 results, addressing ongoing economic challenges.
Carlsberg Vietnam aims for net-zero carbon emissions in production by 2028

Carlsberg Vietnam aims for net-zero carbon emissions in production by 2028

At the Green Economy Forum & Exhibition (GEFE) 2024, Andrew Khan, Managing Director of Carlsberg Vietnam, reiterated the company’s commitment to sustainable development, with a pledge to achieve net zero carbon emissions in its production processes by 2028.

See more news

Bosch Vietnam presents a range of green solutions at GEFE 2024

Bosch Vietnam presents a range of green solutions at GEFE 2024

The Green Economy Forum and Exhibition (GEFE) 2024 organized by Eurocham Vietnam has officially opened with the participation of numerous domestic and international businesses and organizations. Bosch Vietnam is a part of this event, showcasing its green and sustainable solutions that help businesses enhance operational efficiency and contribute to a greener future for Vietnam.
Enterprising PV GAS to seize new opportunities

Enterprising PV GAS to seize new opportunities

(VEN) - This year, PetroVietnam Gas Corporation (PV GAS) celebrates its 34th anniversary with proud achievements, associated with the strong development of the Vietnamese gas industry. Facing new opportunities and challenges in a transitional period, PV GAS has shown the spirit of “Dare to think, dare to act,” “One team, one goal” to seize new opportunities for a more sustainable and stronger development in the future.
Vietnamese beauty shines with Linh Huong Natural products

Vietnamese beauty shines with Linh Huong Natural products

(VEN) - Linh Huong Natural Cosmetics, a famous brand in the Vietnamese cosmetics industry, has quickly affirmed its position by applying modern science to each product, especially in treatments for skin problems such as melasma and freckles.
Building S&R roadmap to strengthen corporate values and contribute to national sustainable future

Building S&R roadmap to strengthen corporate values and contribute to national sustainable future

In recent years, as global awareness of environmental and social issues has grown, businesses worldwide have increasingly been held accountable for their impact on the planet and the communities they serve.
TTC Group and Sojitz Vietnam become strategic partners

TTC Group and Sojitz Vietnam become strategic partners

(VEN) - On the afternoon of October 3, 2024, in Ho Chi Minh City, TTC Group and Sojitz Vietnam officially signed a memorandum of understanding (MoU) with several important contents aimed at leveraging each party's strengths in various fields of operation and business.
PV Gas supplies rail-transported LNG to first customer in the north

PV Gas supplies rail-transported LNG to first customer in the north

(VEN) - On September 11th, 2024, Vietnam CNG Joint Stock Company (PV GAS CNG), a subsidiary of the PetroVietnam Gas Joint Stock Corporation (PV GAS) has completed the first delivery of liquefied natural gas (LNG) transported by rail from the south to Catalan brick plant in Dong Tho Commune, Yen Phong District, Bac Ninh Province - its first customer in northern Vietnam.
Petrovietnam seeks new motivation

Petrovietnam seeks new motivation

(VEN) - Aware of the difficulties and challenges of the world market, the Vietnam Oil and Gas Group (Petrovietnam) has made attempts to seek new motivation and solutions, and continuously maintained positive production and business results in the first eight months of 2024.
Shinhan Life Vietnam continues support for pediatric leukemia patients for third consecutive year

Shinhan Life Vietnam continues support for pediatric leukemia patients for third consecutive year

Shinhan Life Vietnam continues its support to children undergoing leukemia treatment by donating VND 150,000,000 towards medical expenses and distributing over 120 gifts to patients in the City Children's Hospital, in Ho Chi Minh City.
Bosch official first home appliance flagship store launched in Vietnam

Bosch official first home appliance flagship store launched in Vietnam

Bosch, a leading brand in premium household appliances from Germany, has officially opened its first flagship store in Vietnam.
Carlsberg Vietnam donates more than VND1 billion to northern regions affected by typhoon and flooding

Carlsberg Vietnam donates more than VND1 billion to northern regions affected by typhoon and flooding

(VEN) - Carlsberg Vietnam, together with its employees, has donated over VND1 billion to support the northern provinces of Vietnam severely impacted by typhoon Yagi and the resulting flooding.
View more
Latest Most Read
VAT tax reduction should continue until mid-2025: Ministry

VAT tax reduction should continue until mid-2025: Ministry

Hanoi - The Ministry of Finance (MoF) has proposed Vietnam's value-added-tax (VAT) reduction should continue until at least June 2025, saying the tax cut has provided both the business community and the economy with much-needed support.
Top legislator starts official visit to Cambodia

Top legislator starts official visit to Cambodia

Phnom Penh - National Assembly Chairman Tran Thanh Man and a high-ranking delegation of Vietnam arrived in Phnom Penh on November 21 afternoon, beginning their four-day official visit to Cambodia, where the top legislator will attend the 12th General Assembly of the International Conference of Asian Political Parties (ICAPP) and the 11th Plenary Session of International Parliament for Tolerance and Peace (IPTP).
Việt Nam and Malaysia upgrade relationship to Comprehensive Strategic Partnership level

Việt Nam and Malaysia upgrade relationship to Comprehensive Strategic Partnership level

This significant milestone was marked by a joint press conference between General Secretary Tô Lâm and Malaysian Prime Minister Anwar Ibrahim, where both leaders emphasised enhanced cooperation in key areas, including security, defence, the digital economy and maritime collaboration.
Hà Nội prepares for temperature drop as cold front approaches

Hà Nội prepares for temperature drop as cold front approaches

According to the NCHMF, the cold front will result in temperatures dropping sharply across the northern region.
First Vietnam Dialogue opens new avenues for Vietnam-Germany financial cooperation

First Vietnam Dialogue opens new avenues for Vietnam-Germany financial cooperation

The first Vietnam Dialogue, a thematic forum on capital investment in Vietnam, convened on November 19 in Frankfurt, Germany, bringing together Vietnamese and German enterprises in banking, capital management, and financial technology.
vietnam malaysia strategic partnership

Vietnam - Malaysia Strategic Partnership

Since the establishment of diplomatic relations, the relationship between Vietnam and Malaysia has been continuously strengthened and developed positively across all areas, especially since it was upgraded to a Strategic Partnership in August 2015.
vietnam dominican republic strengthening cooperation

Vietnam, Dominican Republic strengthening cooperation

At the invitation of Dominican President Luis Rodolfo Abinader Corona and his spouse, Prime Minister Pham Minh Chinh and his spouse, accompanied by a high-level Vietnamese delegation, pay an official visit to the Dominican Republic from November 19 to 21, 2024. This visit holds significant importance as it marks the first official trip by a Vietnamese leader to the Dominican Republic, taking place ahead of the 20th anniversary of diplomatic ties between the two nations (July 7, 2005 – July 7, 2025).
vietnam brazil strategic partnership

Vietnam - Brazil strategic partnership

During his trip to Brazil from November 16-19 for the G20 Summit and bilateral engagements, Prime Minister Pham Minh Chinh held talks with Brazilian President Luiz Inácio Lula da Silva. The two leaders agreed to elevate the Vietnam-Brazil bilateral relations to a Strategic Partnership and issue a joint statement on the upgrade of the ties.
nhon hanoi station elevated urban railway comes into operation

Nhon - Hanoi Station elevated urban railway comes into operation

The elevated section of the pilot Nhon - Hanoi Station urban railway project has officially entered commercial operation, three months after its debut. This marks a pioneering step toward green transformation, laying the foundation for the capital's public and sustainable transportation development.
key facts on g20 and vietnams participation

Key facts on G20 and Vietnam's participation

Prime Minister Pham Minh Chinh is leading a high-ranking delegation of Vietnam to attend the G20 Summit in Rio de Janeiro, Brazil, from November 16 to 19 at the invitation of Brazilian President Luiz Inácio Lula da Silva.
VAT tax reduction should continue until mid-2025: Ministry

VAT tax reduction should continue until mid-2025: Ministry

Hanoi - The Ministry of Finance (MoF) has proposed Vietnam's value-added-tax (VAT) reduction should continue until at least June 2025, saying the tax cut has provided both the business community and the economy with much-needed support.
NA deputies scrutinise investment policy for North-South high-speed railway project

NA deputies scrutinise investment policy for North-South high-speed railway project

The preliminary total investment for the project is estimated at VNĐ1.7 quadrillion (around US$67.34 billion). To ensure its progress and success, 19 special policies have been proposed.
Developing relations with China is Vietnam’s top priority: Deputy PM

Developing relations with China is Vietnam’s top priority: Deputy PM

Hanoi – Deputy Prime Minister Le Thanh Long on November 19 held talks with Ding Xuexiang, member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and Vice Premier of China, on the occasion of his attendance at the 2024 World Internet Conference (WIC) Wuzhen Summit and his visit to Zhejiang province.
Vietnam pledges to make more contributions to APEC cooperation

Vietnam pledges to make more contributions to APEC cooperation

Lima – Vietnam will continue actively contributing to and effectively implementing cooperation orientations and directions of the Asia-Pacific Economic Cooperation (APEC), State President Luong Cuong affirmed while addressing the 31st APEC Economic Leaders' Meeting in Lima, Peru, on November 16 (local time).
Tra fish sector aiming for production, processing greening for sustainable development

Tra fish sector aiming for production, processing greening for sustainable development

HCM City - Greening production and processing to meet export requirements is both a trend and a necessity for many industries, including the tra fish sector.
Solutions discussed to ensure coal supply for electricity generation in 2025

Solutions discussed to ensure coal supply for electricity generation in 2025

Việt Nam Electricity (EVN), Việt Nam National Coal and Mineral Industries Holding Corporation Limited (TKV), and Đông Bắc Corporation have proposed solutions to secure sufficient coal for power generation as thermoelectricity is expected to rise significantly to meet 2025's socio-economic power demand.
Garment industry targets 47-48 billion USD in export turnover next year

Garment industry targets 47-48 billion USD in export turnover next year

Hanoi – Vietnam’s textile and garment industry aims to achieve 47–48 billion USD in export turnover in 2025, according to Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (VITAS).
Residents support restarting Ninh Thuận Nuclear Project, call for clear roadmap

Residents support restarting Ninh Thuận Nuclear Project, call for clear roadmap

Local residents expressed their hope that the project will be implemented with a clear, coordinated timeline and that it will bring transformative development to the province.
Workshop seeks ways to attract Japan’s green investment to Vietnam

Workshop seeks ways to attract Japan’s green investment to Vietnam

A workshop was held in Tokyo on November 18 to introduce to Japanese businesses investment trends in Vietnam and its pioneering industrial parks with carbon neutral initiatives.
Government approves investment policy to build Cam Lien Industrial Park in Quang Binh

Government approves investment policy to build Cam Lien Industrial Park in Quang Binh

On November 16, the leader of the Quang Binh Provincial Economic Zone Management Board said that the Government had just approved the investment policy for Cam Lien Industrial Park.
Disbursement of public investment must be accelerated: Deputy PM

Disbursement of public investment must be accelerated: Deputy PM

Deputy Prime Minister Ho Duc Phoc has called on ministries, agencies, and localities to accelerate the disbursement of public investment from now until the year-end and further tighten investment management.
LG plans to pour further US$1 billion investment into Vietnam

LG plans to pour further US$1 billion investment into Vietnam

The Republic of Korea (RoK)’s LG Displays Co. Ltd has been licensed to raise its investment in a factory in Hai Phong city, northern Vietnam, by US$1 billion.
HDBank wins three awards at Vietnam Listed Company Awards 2024

HDBank wins three awards at Vietnam Listed Company Awards 2024

The Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank - HoSE: HDB) has received three prestigious awards at the Vietnam Listed Company Awards 2024, highlighting its leadership in the banking sector, as well as its dedication to transparency and governance.
VIB, Flywire partner to streamline cross-border payments for students from Vietnam

VIB, Flywire partner to streamline cross-border payments for students from Vietnam

Vietnam International Bank (VIB) has announced a partnership with Flywire, a global payments enablement and software company based in Boston, to enable Vietnamese payers to digitally pay international education-related fees in their local currency to higher education institutions all over the world.
Vietcombank issues 2 trillion VND worth of green bonds for first time

Vietcombank issues 2 trillion VND worth of green bonds for first time

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has successfully issued 2 trillion VND worth of green bonds, the first of its kind, to support eco-friendly projects.
UK stands ready to help Vietnam build international financial hub

UK stands ready to help Vietnam build international financial hub

The UK’s support for Vietnam in establishing an international financial hub is a significant development that reflects the growing economic ties between the two nations.
Hà Nội prepares for temperature drop as cold front approaches

Hà Nội prepares for temperature drop as cold front approaches

According to the NCHMF, the cold front will result in temperatures dropping sharply across the northern region.
Hundreds of damaged irrigation reservoirs need repairing

Hundreds of damaged irrigation reservoirs need repairing

Việt Nam's system of dams and reservoirs is facing numerous challenges. Unusual rainfall patterns, flash floods due to climate change and the degradation of many structures pose significant safety risks.
Greening e-commerce crucial for sustainable development

Greening e-commerce crucial for sustainable development

(VEN) - While e-commerce has emerged as a leading sector of the digital economy, driving economic growth and leading the digital transformation of businesses, it has also resulted in significant waste with adverse environmental impacts.
National Environmental Protection Plan ensures high quality living environment

National Environmental Protection Plan ensures high quality living environment

The plan aims to effectively conserve biodiversity and maintain ecological balance, proactively address climate change and promote a society that develops harmoniously with nature.
People, community at heart of digital transformation: Deputy PM

People, community at heart of digital transformation: Deputy PM

He called on countries and organisations to bolster close cooperation to build an Internet community of safety, responsibility and development while laying stress on Việt Nam's significant progress in the digital transformation programme.
AI is core technology of 4th Industrial Revolution: Minister

AI is core technology of 4th Industrial Revolution: Minister

Minister of Information and Communications Nguyen Manh Hung on November 19 emphasised that artificial intelligence (AI) is the core technology of the 4th Industrial Revolution, as important as the steam engine of the first Industrial Revolution, the power generator of the 2nd Industrial Revolution and the personal computer of the 3rd Industrial Revolution.
Global scientific luminaries to gather at VinFuture sci-tech week

Global scientific luminaries to gather at VinFuture sci-tech week

The VinFuture Foundation has announced its flagship Science and Technology Week and Award Ceremony scheduled for December 4-7 in Hanoi, bringing together leading experts in pivotal technological domains such as materials sciences, AI, air pollution and environmental studies.
Hà Nội to host 2024 e-commerce and digital economy forum on November 21

Hà Nội to host 2024 e-commerce and digital economy forum on November 21

The event aims to address the practical needs of businesses in the industrial and trade sectors as they navigate digital transformation.
Việt Nam-UK Institute plans for an international university

Việt Nam-UK Institute plans for an international university

The Việt Nam-UK Institute for Research and Executive Education (VNUK) under the Đà Nẵng University will be turned into an international university – a key base of the Đà Nẵng University – in the 2030-50 Master Plan.
Hanoi aims to become a smart city by 2030

Hanoi aims to become a smart city by 2030

(VEN) - At their 19th session, delegates of the Hanoi People’s Council approved a project for the development of an intelligent transport system in the city.
Huế Central Hospital boosts international cooperation to become global health hub

Huế Central Hospital boosts international cooperation to become global health hub

Every year about 100 to 110 delegations, comprising around 500 international experts, doctors and students, visit the hospital for research and training.
Hà Nội hospital partners with UK charity to provide surgeries for children with facial deformities

Hà Nội hospital partners with UK charity to provide surgeries for children with facial deformities

The 108 Military Central Hospital and Facing the World, a UK-based charity foundation, will partner in providing surgeries for children with facial deformities in Việt Nam.
VN takes part in food and beverage fair in Chicago

VN takes part in food and beverage fair in Chicago

The event is organised by the Private Label Manufacturers' Association (PLMA).
Hòa Bình honey awaits reactions from UK

Hòa Bình honey awaits reactions from UK

Farmers, producers, and the agricultural authorities in Hòa Bình Province are waiting for feedback on their locally produced honey, which was exported for the first time to the UK last month.
Post-Typhoon Yagi trade networking event starts in Hải Dương

Post-Typhoon Yagi trade networking event starts in Hải Dương

The Hải Dương Handicrafts Association and Nam Vũ Clean Agricultural Cooperative organised a trade event in Thanh Hà District to help local businesses expand markets and find partners after Typhoon Yagi.
Hòa Bình exports honey and pearl onions to UK

Hòa Bình exports honey and pearl onions to UK

This shipment marks Hòa Bình Province's second export of processed agricultural products to the UK, and has a value exceeding VNĐ300 million (US$11,800).
tcty-dau-khi-vn-pv-power-2022
Bac Ninh Province: Dong Ho folk painting needs urgent safeguarding

Bac Ninh Province: Dong Ho folk painting needs urgent safeguarding

(VEN) - Dong Ho folk painting village, located in Dong Khe Hamlet, Song Ho Commune, Thuan Thanh Town, Bac Ninh Province, boasts an over-400-year history. Its origin is tied to the Vietnamese tradition of hanging paintings during the Lunar New Year (Tet), the Mid-Autumn Festival, and ancestor worship.
Vietnamese designers tell stories of culture at Fashion Week

Vietnamese designers tell stories of culture at Fashion Week

Vietnamese fashion designers took audiences in Hà Nội on a journey to explore the country’s culture and heritage through their new collections presented at the Aquafina Việt Nam International Fashion Week (AVIFW) Fall/Winter 2024.
Creative City promotes socio-economic development, says expert

Creative City promotes socio-economic development, says expert

The design festival became one of Hà Nội's commitments after joining UNESCO's Creative Cities Network in 2019.
Five Vietnamese creations listed among the world’s 100 best-rated dishes with coconut

Five Vietnamese creations listed among the world’s 100 best-rated dishes with coconut

The dishes include pomelo sweet soup (ranking 33), honeycomb cake (ranking 42), coconut steamed rice with baby shrimp (ranking 80), husband and wife cake (ranking 91) and coconut pandan waffles (ranking 93).
Blooming buckwheat flowers on Ha Giang roads

Blooming buckwheat flowers on Ha Giang roads

(VEN) - When buckwheat flowers on the hills and in the valleys of the Dong Van karst plateau bloom, it is also the peak tourist season in the Northernmost province of Ha Giang.
Folk cultural festival on Côn Đảo Island attracts tourists

Folk cultural festival on Côn Đảo Island attracts tourists

The death anniversary of Lady Phi Yến, the 239th, the biggest folk cultural festival on Côn Đảo Island, attracted many Vietnamese and foreign audiences.
Tra Que named among world’s best tourism villages in 2024

Tra Que named among world’s best tourism villages in 2024

Tra Que vegetable village in the central province of Quang Nam has become Vietnam's sole representative to earn a spot on the United Nations World Tourism Organisation's (UNWTO) 2024 list of the world’s 55 best tourism villages.
Quảng Ninh to attract more foreign tourists by year-end

Quảng Ninh to attract more foreign tourists by year-end

The northeastern province of Quảng Ninh, home to Hạ Long bay, a UNESCO World Heritage Site, is actively working to reach its target of 19 million visitors in 2024, including 3.5 million international arrivals.
Mobile Version